Sandisk (NASDAQ:SNDK) Trading 3.2% Higher Following Analyst Upgrade

Key Points

• Sandisk shares rose 3.2% after Susquehanna lifted its price target from $2,000 to $3,250 and kept a positive rating, signaling continued Wall Street confidence in the stock’s upside.
• Other analysts have also turned more bullish, with firms like Zacks, Mizuho, and Arete raising ratings or price targets. The stock now has a consensus Buy rating and an average target price of $1,368.73.
• Investor enthusiasm is being fueled by Sandisk’s strong AI-memory narrative and solid earnings results, including quarterly EPS of $23.41 versus $14.17 expected and revenue up 251% year over year. Analysts also see its QLC Stargate product as a potential new growth driver starting in Q4 FY26.

Sandisk Corporation (NASDAQ:SNDK - Get Free Report)'s share price shot up 3.2% during trading on Friday after Susquehanna raised their price target on the stock from $2,000.00 to $3,250.00. Susquehanna currently has a positive rating on the stock. Sandisk traded as high as $1,708.83 and last traded at $1,694.98. 8,200,257 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 17,745,750 shares. The stock had previously closed at $1,641.64.

Several other research firms also recently weighed in on SNDK. Zacks Research upgraded Sandisk from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 20th. Mizuho boosted their target price on shares of Sandisk from $1,625.00 to $1,825.00 and gave the stock an "outperform" rating in a report on Thursday. Arete Research upgraded shares of Sandisk from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Evercore reiterated an "outperform" rating and issued a $1,400.00 price target on shares of Sandisk in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their price target on shares of Sandisk from $975.00 to $1,250.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $1,368.73.

Insider Activity at Sandisk

In other news, CAO Michael Pokorny sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,426.18, for a total transaction of $3,488,436.28. Following the completion of the transaction, the chief accounting officer directly owned 22,375 shares in the company, valued at approximately $31,910,777.50. This represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 579 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $1,503.11, for a total transaction of $870,300.69. Following the completion of the transaction, the director directly owned 2,900 shares of the company's stock, valued at approximately $4,359,019. This trade represents a 16.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Sandisk News Summary

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Susquehanna raised its price target on SanDisk to $3,250 and kept a positive rating, reinforcing the view that the stock still has substantial upside after its run. Benzinga report on Susquehanna target hike
• Positive Sentiment: Mizuho also lifted its target and reiterated an outperform rating, while Barclays upgraded the stock and said SanDisk could see “another leg higher,” adding to the bullish Wall Street momentum. Barclays upgrade article
• Positive Sentiment: Analysts and industry coverage continue to frame SanDisk as a direct AI-memory play, with demand for high-performance storage rising as AI workloads become more memory-intensive and scarce supply supports pricing. Zacks QLC Stargate article
• Positive Sentiment: The company’s QLC Stargate product is expected to begin shipments in Q4 FY26, which could open a new revenue stream tied to AI data-center storage demand and broaden growth beyond TLC SSDs. Zacks QLC Stargate article
• Neutral Sentiment: Broader semiconductor optimism has also helped, as investors continue to bid up AI infrastructure names even though some commentary warns the chip rally may be getting overheated. 24/7 Wall St. sector commentary

Institutional Trading of Sandisk

Hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. increased its position in Sandisk by 12.0% during the first quarter. GHP Investment Advisors Inc. now owns 121 shares of the data storage provider's stock valued at $77,000 after acquiring an additional 13 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Sandisk by 0.3% in the 4th quarter. Blair William & Co. IL now owns 5,287 shares of the data storage provider's stock worth $1,255,000 after acquiring an additional 17 shares during the last quarter. Empirical Finance LLC boosted its stake in shares of Sandisk by 0.7% during the 1st quarter. Empirical Finance LLC now owns 3,535 shares of the data storage provider's stock worth $2,246,000 after purchasing an additional 24 shares during the period. SOA Wealth Advisors LLC. grew its holdings in Sandisk by 108.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 52 shares of the data storage provider's stock valued at $33,000 after purchasing an additional 27 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in Sandisk by 20.2% in the 4th quarter. Larson Financial Group LLC now owns 220 shares of the data storage provider's stock worth $52,000 after purchasing an additional 37 shares during the period.

Sandisk Stock Up 3.2%

The company's 50 day simple moving average is $1,054.51 and its 200-day simple moving average is $637.32. The firm has a market cap of $251.01 billion, a P/E ratio of 58.91 and a beta of 4.82.

Sandisk (NASDAQ:SNDK - Get Free Report) last released its earnings results on Thursday, April 30th. The data storage provider reported $23.41 EPS for the quarter, beating analysts' consensus estimates of $14.17 by $9.24. Sandisk had a return on equity of 44.06% and a net margin of 34.19%.The firm had revenue of $5.95 billion for the quarter. During the same period in the prior year, the company posted ($0.30) EPS. The company's quarterly revenue was up 251.0% compared to the same quarter last year. Sandisk has set its Q4 2026 guidance at 30.000-33.000 EPS. Equities research analysts predict that Sandisk Corporation will post 63.58 EPS for the current year.

Sandisk Company Profile

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.

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